Notice

New Zealand December 2016 Bank Bill Final Settlement Price discrepancy – BBZ16

What's this about:
  • ASX 24 Market
  • Clearing
  • Settlement
  • Futures
  • Operations
  • Interest Rate Futures
  • NZ
  • New Zealand
  • Bank Bill
  • Dec
  • December
  • 2016
  • Final Settlement Price
  • Show more
Notice reference number: 1539.16.12
Date published: 15/12/16
Effective as of: 15/12/16
Last updated: 15/12/16

ASX advises Participants that the Final Settlement Price used to settle the New Zealand Bank Bill December 16 (BBNZ16) futures contract on the 14th of Dec 2016 was incorrectly set at 97.97 in the Genium Clearing system.

The correct settlement price is 97.96.

The underlying cause of the incorrect price being utilized was technical and related to the re-publication of the price on the morning of expiry.

Participants that held open positions in the BBZ16 contract at the time of expiry had those positions closed using the incorrect 97.97 price.

ASX will be passing cash adjustments today for the difference between the incorrect and correct settlement prices and will be sending details of those adjustments to the relevant Participants.

What do I need to do by when?

Affected Participants should refer to the email notification sent with details of the adjustments that have been made today.

Need more information?

Issued by

Brendan Sweeney - Manager – Post Trade Operations

Contact information

[Post Trade Operations]
1800 814 051

 

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